Nokia announced on Thursday it has agreed to acquire U.S.-based optical networking gear maker Infinera Corp in a deal valued at $2.3 billion to bolster its optical network business and tap into an AI-fueled data center boom. This strategic acquisition positions Nokia to capitalize on the burgeoning investments in data
Category: Business
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Japanese tech giant SoftBank Group Corp’s Vision Fund 2 is set to invest between $10 million and $20 million in U.S.-based search startup Perplexity AI, Bloomberg reported on Thursday. The investment marks Masayoshi Son’s latest strategic move in a sector he believes is essential for cementing his legacy. Sources told
Today’s news is lighter due to the Juneteenth holiday, a federal holiday in the United States commemorating the end of slavery. So, here are the top venture funding stories for June 19, 2024: Zilch raises $125M in debt financing ahead of potential IPO Entro Security raises $18M in Series A funding to
OpenAI CEO Sam Altman privately told some shareholders that the company is considering a potential change in its governance structure to a for-profit business independent of its nonprofit board, The Information reported on Friday. One proposed scenario is transforming OpenAI into a for-profit benefit corporation, a model already adopted by
In a dramatic turn of events, Bitcoin miner Core Scientific has rejected an “unsolicited” $1 billion buyout offer from Nvidia-backed specialized cloud provider CoreWeave. The all-cash offer came in just five months after the company emerged from Chapter 11 bankruptcy. Core Scientific said the all-cash offer significantly undervalues the company’s
Nvidia has become the world’s second most valuable company. The chipmaking giant’s market capitalization reached a staggering $3.01 trillion on Wednesday afternoon, surpassing Apple’s $3 trillion mark and making it the first chip firm to hit $3 trillion in market cap. The remarkable feat underscores the growing influence and demand
The AI boom that began with the launch of ChatGPT in November 2022 has led to surging demand for the graphics processing units (GPUs) essential for powering AI data centers. One notable beneficiary of this surge is CoreWeave, an Nvidia-backed cloud computing startup that provides the computational power necessary for complex AI
